October 28, 2011

One prerequisite for exiting the crisis is developing the internal market : Ansip

Brussels– The heads of state and government of the European Union, who gathered in Brussels, stressed that in addition to addressing the immediate challenges posed by the financial crisis, it is essential to intensify efforts to secure sustainable and job-creating growth.

The conclusions of the European Council stated that the goal of member states was to restore confidence in public finances. “At the same time, determined action is required to strengthen the economy already in the short run.”

In his own address to his European Union colleagues, Prime Minister Andrus Ansip referred to the need to deal more specifically with measures conducive to economic growth.

“The wellspring of economic growth is the internal market,” said Ansip. “If we want to truly realize the concealed potential of the common market, we must do things differently. Stimulating the economy is the best cure for crisis.”

Ansip alluded to his recent letter to fellow European Union leaders in which he emphasized the need to significantly increase the economic integration in the EU and make the leadership of the euro area more effective.

“We must overcome the hindrances stemming from the rigidity of member states’ markets,” Ansip said today. “The European Commission must receive greater powers for guaranteeing the four fundamental freedoms of the European Union.”

On the basis of the European Commission report, the European Council today agreed on economic policy priorities, hailing their positive impact on job creation and economic growth.

“The Commission’s roadmap is a good basis for continuing to work toward promoting growth and strengthening financial discipline,” said Ansip.

The European Council also stressed the need for more powerful tools to enhance its economic governance such as the Europe 2020 strategy, the European semester, the Euro Plus Pact and the package of six legislative acts agreed last month.

After the meeting of the Council consisting of leaders from 27 EU member states, a summit of the 17 Eurozone countries took place. The discussions centred on the debt crisis and possibilities for resolving it. Discussions on these topics will continue this coming Wednesday.